FastPay and Tennenbaum Capital partnered to provide an $80 million credit facility to leading global converged TV and video software provider Videology; Scott Ferber of Videology explains: "The facility provides the additional liquidity we need to expand our business further and faster — so important in such a quick moving, high growth space. We are fortunate to be working with this great team."; having FastPay and Tennenbaum partner to provide the financing allowed for the facility to occur with unprecedented speed and efficiency. Source
Oldest
Fintech
Lawmakers have long been arguing that the regulations enacted after the financial crisis have hurt the bank's lending business; Greg Lyons, a partner at Debevoise & Plimpton law firm, tells American Banker: "It's not the kind of issue that lends itself to crisp, absolute answers, unfortunately, it's a more amorphous and an ideological view as much as anything else. There's not necessarily a right or wrong answer. It depends on what your objectives are."; in a recent survey of small businesses by the New York Fed only 8% said credit was too expensive/hard to find and 47% said there is sufficient credit in the market; the area most affected by regulations is that of borrowers with less than perfect credit, this market has been hampered by the capital ratio requirements; while certain areas of the market have felt the regulatory burden, overall businesses are able to find the credit they need; the argument will surely continue as policymakers look to ease the most stringent rules. Source
Initial coin offerings (ICOs) raised $550 million in June, surpassing the angel and early stage venture capital fundraising for internet businesses globally; several factors could potentially slow the fundraising trend including security issues and a report from the Securities and Exchange Commission; despite some new challenges, ICO fundraising data shows the offerings also ahead of angel and early stage funding in July. Source